KTFA, MarkZ, The Atlantis Report and more Saturday Night 1-30-2021
KTFA:
Samson: More than 4.8 million active bank accounts in Iraq
30th January, 2021
The Iraqi Private Banks Association announced on Saturday that the number of bank accounts in banks operating inside Iraq amounts to more than 4.8 million bank accounts, confirming that the number of activated bank cards is more than 11.2 million cards.
The executive director of the Iraqi Private Banks Association, Ali Tariq, said in a press release, received by Shafaq News, that bank accounts amount to more than 4.8 million accounts, which is a very good percentage, and is witnessing a significant annual growth, which is more than 44% thanks to the salaries nationalization program for state employees and the opening New companies in addition to the citizens’ need to save in banks because of the high interest rate of fixed deposits and purchases from the Internet and others.
He noted that the number of currently activated bank cards is more than 11.2 million cards, while the number of ATMs is 1170 devices, explaining that the point of sale devices known as POS amount to about 4,000 devices, and electronic payment companies are working to increase to include all stores throughout the country during the years Coming.
Tariq pointed out that the activated electronic wallets amount to more than 3.5 million wallets, and that the points of cash payment amount to about 13 thousand devices spread throughout Iraq.
He stressed that "the strategy of the Central Bank of Iraq to enhance financial inclusion contributed to increasing bank accounts, bank cards and electronic payment devices, in addition to being able to diversify banking services to all citizens in Baghdad and the provinces," noting that the Central Bank is working with the International Monetary Fund and the Arab Monetary Fund, And the World Bank, the Association of Private Banks and other financial institutions to promote the concept of financial inclusion inside Iraq. LINK
Samson: The Sairon Alliance stresses the need for a "Kurdish conviction" to pass the 2021 budget
30th January, 2021
The Saeron Alliance, supported by the leader of the Sadrist movement, Muqtada al-Sadr, suspended today, Saturday, the fact that there is a parliamentary and political approach to pass the 2021 budget bill without the approval of the Kurdish political forces.
The leader in the coalition, MP Riad Al-Masoudi, told Shafaq News, "The current indications are that the 2021 budget bill will be passed with the approval and support of the Kurdish political forces," stressing the need for a Kurdish conviction about what was mentioned in the budget, and they are aware of the need to vote on the budget in a manner Fast, and they don't want to delay it.
Al-Masoudi indicated that "all political forces, including the Kurdish, will engage in decisive meetings during the next two days in order to finally agree on passing the budget during the current week, after the financial committee has fully completed the project, and it has not remained until consensus and political agreement on it." LINK
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Courtesy of Dinar Guru https://www.dinarguru.com/
Petra Article: "Finally, the 2021 budget is ready for approval in Parliament" Quote: "the Parliamentary Finance Committee will, next week, distribute copies of the revised draft of the Maronite law to the heads of political blocs 24 hours before the date of the voting session on the budget law." The source pointed out that "next Monday is the day set for resuming parliamentary sessions and voting on the budget law." So, IMO, BIS requires at least 24 hours notice prior to any formal rate change within all CB's around the world. They, in turn, relay that information back to all the CB's globally. Now, if you read what I just posted the final "draft" will be sent...24 hours prior to the vote. Interesting timing. This may be something, maybe nothing, but it sure falls in line with rate before budget. They are to vote on Monday as Tuesday is their "last day of session!" So, timing is sure unique and allows the ledger to reflect the rate change retroactively back to Jan 1. Again, IMO.
Reposted
Mike Cottrell [via PDK] [What timeframe/window are you hearing for the RV?] The window is anytime. We are looking at the first financial quarter of the year...I think the window is any time….I would look for it at any moment. …The timeframe that was always given to me was Thurs, Fri, Sat, Sun…Saturday night is when all the banks shut down worldwide for at least an hour to redo their books for going into Monday’s business…
MarkZ [via PDK] We have always been told the ideal window was a Saturday Night between 11 pm est to 2-3 AM est…This is the ideal time because of the lack of numbers going through the financial system. It’s a quiet time and the easiest time to flag any nefarious things going on….We have always been looking at this timeframe. Yes they could do it other times….but Saturday night is the one that makes the most sense...With the QFS system they do have more flexibility then they had before.
Can Reddit Day Traders Crash JP Morgan Short Squeezing Silver ?!
The Atlantis Report: Jan 29, 2021
A decentralized Reddit forum called WallStreetBets is causing chaos on Wall Street.
The WallStreetBets a longstanding subreddit channel where over 4 million users discuss highly speculative trading ideas and strategies, briefly went private on Wednesday in response to millions of new users pouring in.
The Reddit subgroup is operating now by invitation only. WallStreetBets crushes hedge funds and crashes trading apps by creating major short squeezes.
A short squeeze happens when a price increase for an asset prompts a rush in buying activity by those who previously bet that prices would fall. A short squeeze might sound complicated, but it’s actually a relatively straightforward process.
When institutional investors short-sell a stock, what they actually do is borrow a number of shares they believe will drop in value, sell them at the highest price possible and try to buy them back later at a lower price. If they’re successful, they hand the initial borrowed amount back and pocket the difference. If the market turns against them however, and the price of the shares increase, they are forced to buy the shares back at a loss.
If the price rises dramatically within a short space of time, it can cause devastating losses for the short-seller.
Major hedge funds have already lost around 7 billion dollars to WallStreetBets day traders short squeezes. WallStreetBets traders are not stopping here; they are now turning to silver for their next short-squeeze target after being restricted from hot stocks like GameStop and AMC.
Silver has become a new target for Reddit day traders after multiple posts on the infamous WallStreetBets subreddit .